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Intro A corporate bond has 22 years to maturity, a face value of $1,000, a coupon rate of 5.1% and pays coupon twice a year.

Intro

A corporate bond has 22 years to maturity, a face value of $1,000, a coupon rate of 5.1% and pays coupon twice a year. The annual market interest rate for similar bonds is 3.2%.

Attempt 1/3 for 10 pts.

Part 1

What is the price of the bond (in $)?

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